Moody's improves Azerbaijan’s fiscal strength rating


May 21, Fineko/ Moody's Investors Service (Moody's) has revised the Azerbaijani government’s fiscal strength to ‘a1’ from ‘a2’.

ABC.AZ reports that the government's "a1" fiscal strength underpinned by the country's strong net creditor position, as the size of sovereign wealth assets covers all of the government's direct debt and guarantees, notwithstanding the high share of a foreign currency debt.

Note that Moody's changed the outlook on Azerbaijan's rating to positive from stable and affirmed the long-term issuer and senior unsecured debt ratings at Ba2.